The Turkish steel producers have continued to stay away from the deep-sea scrap market, while suppliers were raising their offer prices because of tightening supplies, sources said on Thursday April 2.The most recent deep-sea deals had put prices at $206-207 per tonne cfr for HMS 1&2 (80:20) and mills' expectations since then have been around $200-205 per tonne for similar material.But suppliers w...Read More
Domestic and import steel billet prices in Turkey have continued to fall over the past week amid lower scrap costs, sources said on Thursday April 2.Turkish scrap import prices have fallen to their lowest in four years, as of March 30. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $201.13 per tonne on Monday March 30, down from $241.63 per tonne...Read More
Prices for imported steel billet in Egypt fell in the week to Thursday April 2, with market activity being stifled by the wider impact of the Covid-19 pandemic, sources told Fastmarkets.Demand is weak, and trading activity is limited, sources said.CIS-origin billet was on offer to Egyptian customers this week at $350-355 per tonne cfr, down from last week's $370-375...Read More
The Italian government has announced it will extend the lockdown in the country to manage the spread of the Covid-19 outbreak in the country, keeping already closed steel assets shuttered. Prime Minister Giuseppe Conte announced on April 1 that he had signed a new decree extending the lockdown in the country until April 13, discarding the original end date of April 3. "We are not in the condition,...Read More
Demand for flat steel products in Turkey was weak in March because of the spread of the Covid-19 pandemic in the country, market participants told Fastmarkets on Thursday April 2.The first case of a Covid-19 infection was announced on March 11 in Turkey, and all schools were closed on March 15.Since then, several carmakers in the country have announced production stoppages.Tofas, which produced 26...Read More
Automotive manufacturers in Europe and the UK have extended their previously announced production suspensions following the introduction or extension of national lockdown measures.Shutdowns were announced by carmakers across the continent because of the supply chain problems created by the measures taken by governments to restrict the spread of the Covid-19 pandemic.There are now lockdowns in plac...Read More
Demand for flat steel products in Turkey was weak in March because of the spread of the Covid-19 pandemic in the country, market participants told Fastmarkets on Thursday April 2.The first case of a Covid-19 infection was announced on March 11 in Turkey, and all schools were closed on March 15.Since then, several carmakers in the country have announced production stoppages.Tofas, which produced 26...Read More
Iron ore export volumes from Brazil fell by 2.13% year on year in March, with the daily average falling by 15.48% in the same comparison, Fastmarkets understands.The country exported 21.71 million tonnes of iron ore last month, compared with 22.18 million tonnes the year before, according to figures released by the country's Ministry of Economy on Wednesday April 1.A higher number of working days...Read More
Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on Wednesday April 1.The Spanish government issued a royal decree on March 29, ordering the shutdown of all non-essential activities and businesses from March 30, with a rest...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 2 that are worth another look.Tata Steel has reduced output at its steel production sites in India and Europe due to decreased demand, and to obey the temporary regulations imposed to tackle the spread of the Covid-19 pandemic, the company said on Wednesday April 1.Norsk Hydro has decided to postpone adding 95,000 tonnes per...Read More
Demand for flat steel products in Turkey was weak in March because of the spread of the Covid-19 pandemic in the country, market participants told Fastmarkets on Thursday April 2.The first case of a Covid-19 infection was announced on March 11 in Turkey, and all schools were closed on March 15.Since then, several carmakers in the country have announced production stoppages.Tofas, which produced 26...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.A 6% decline in the daily average 62% Fe iron ore fines benchmark last week contributed to the lowest quarterly price rise for the first quarter in five years, in spite of clear evidence of supply-side constraints. Although there were clear demand-related obstacles to iron ore suppliers raking in more typical, seasonal price...Read More
Rio Tinto has declared force majeure on shipments of copper cathode from its Kennecott copper mine in the US state of Utah following a 5.7-magnitude earthquake near the site last month.All operations at the site were temporarily halted after the quake, with staff evacuated while an assessment was made. The mine, concentrator and tailings have since resumed operations, but the company has been work...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 2 that are worth another look.Tata Steel has reduced output at its steel production sites in India and Europe due to decreased demand, and to obey the temporary regulations imposed to tackle the spread of the Covid-19 pandemic, the company said on Wednesday April 1.Norsk Hydro has decided to postpone adding 95,000 tonnes per...Read More
A much vaunted infrastructure bill could be back on the agenda again while the United States moves to shore up its economy and stem job losses amid the Covid-19 pandemic.US President Donald Trump said in a post on social media platform Twitter earlier on Tuesday March 31 that the bill would be the fourth part of the government's stimulus measures to handle the impacts of the virus."With interest r...Read More
The Covid-19 pandemic has opened up financing opportunities for metals and mining-focused investment firms. It's also created a problem. The one-two punch demand and supply shock that the virus has created is putting the mining sector under extreme pressure. With banks even more reluctant than before to provide capital to the mining sector amid the tumultuous global financial backdrop, corporates...Read More
Metals, mining and alloy producers have been scenario-planning in response to the novel coronavirus. The South African government appears to have just removed all but one option.President Cyril Ramaphosa ordered the country's mineral resources industry to shut underground mines and furnaces from Thursday March 26, unless they can be operated remotely. The shutdown will last for three weeks an...Read More
The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Thursday April 2, climbing by 1.5% despite a three-month low in turnover, while an afternoon rally did little to push aluminium above nearby resistance.Zinc's outright price on the LME closed at $1,887.50 per tonne at the 5pm London close on Thursday, up from an intraday low of $1,844 p...Read More
Seaborne iron ore prices were stable on Thursday April 2, with futures prices on the Dalian Commodity Exchange and Singapore Exchange registering gains, and active physical trading in the Chinese port market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.72 per tonne, up $1.23 per tonne62% Fe low-alumina fines, cfr Qingdao: $84.63 per tonne, up $0.83 per tone58% Fe fines high-grade pre...Read More
Trading activity in China's domestic hot-rolled coil market rose on Thursday April 2 amid falling prices, but the export market remained quiet despite lower offers.DomesticEastern China (Shanghai): 3,150-3,190 yuan ($444-450) per tonne, down 50-70 yuan per tonneNorthern China (Tangshan): 3,160-3,200 yuan per tonne, down 10-40 yuan per tonneSellers in Shanghai started the day with offers of around...Read More